Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Politics & Money

Fed Vice Chairman says U.S. economy is “in a good place”

Clarida pledges the Fed will be “nimble” if course correction needed

In his first public remarks since a U.S. airstrike that killed a top Iranian general last week, Federal Reserve Vice Chairman Richard Clarida said U.S. monetary policy is “in a good place” despite “significant global growth headwinds.”

Without mentioning the recent market turmoil stemming from a ramp up, then ramp down, of hostilities with Iran, Clarida said on Thursday the central bank stood ready to respond to any emerging challenges. The U.S. economy seems to have dodged, for now, last year’s threat of a recession that would have cooled housing and mortgage demand.

While Clarida didn’t cite Iran in his remarks, he referenced the possibility of “developments” changing the central bank’s stance, which is the Fed’s way of calming the markets without being specific.

The Fed “will be monitoring the effects of our recent policy actions along with other information bearing on the outlook as we assess the appropriate path of the target range for the federal funds rate,” he said in a speech to the Council on Foreign Relations in New York. “Of course, if developments emerge that, in the future, trigger a material reassessment of our outlook, we will respond accordingly.”

During a question-and-answer period, Clarida said the central bank would act quickly if it deemed a course-correction was needed.

“We need to be nimble and we need to be alert not only to U.S. but global circumstances,” he said, adding that risks to the Fed’s outlook are “skewed to the downside.”

Clarida said three consecutive cuts to the Fed’s benchmark rate last year were “well-timed” and that monetary policy is well-positioned for the new year.

Last year’s cuts have “been providing support to the economy and helping to keep the U.S. outlook on track,” Clarida said. “I believe that monetary policy is in a good place and should continue to support sustained growth, a strong labor market, and inflation running close to our symmetric 2% objective. As long as incoming information about the economy remains broadly consistent with this outlook, the current stance of monetary policy likely will remain appropriate.”

Most Popular Articles

FHFA: Government to back mortgages up to $970,800 in 2022

The FHFA today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. In high-cost areas, the new ceiling loan limit will be $970,800.

Nov 30, 2021 By

Latest Articles

Fannie Mae revs up its credit-risk transfer machinery

Fannie Mae is once again back in the credit-risk transfer market with a $984 million note offering through its Connecticut Avenue Securities real estate mortgage investment conduit

Dec 02, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please